How to Build Worldly Wisdom - The Greatest Mental Models of Charlie Munger

Practical Psycholgoy lessons from Warren Buffet's business partner. Ideas used to create rational thinking and build a Trillion-Dollar empire. Today we dissect the best lessons from "Poor Charlies Almanac" A blueprint for rational thinking and sensible investing. Charlie Munger loved Psychology and wanted there to be a course on Practical Psychology to be taught at all universities. He believed it would make the world a better place. His book combines his favourite tools from psychology as well as other lessons and mental models he found to build worldly wisdom and the best investing record in history. Upgrade to Premium: 🏖️ Ad-free listening 🤘 Support the show 🔓 Exclusive AMAs and bonus content 💬 Community Discord GrowthMindset.Supercast.com Related Episodes: Greatest Mental Models of Jeff Bezos: Principles behind his success - 24th May 2024 Thinking Fast and Slow: Where Biases come from - 12th July 2024 Ego Blindspots: 9 Cognitive Biases to avoid - 7th May 2024 Meet Sam Free Call - Schedule Link Growth Mindset Psychology: Sam Webster explores the psychology of happiness, satisfaction, purpose, and growth through the lens of self-improvement. Watch - YouTube (Growth Mindset) Website - GrowthMindsetPodcast.com Chapters: 00:00 Introduction to Mastering Wisdom 00:23 Charlie Munger's Influence 01:13 The Growth Mindset Psychology Podcast 02:07 Exploring Poor Charlie's Almanac 03:54 #1 - Interdisciplinary Thinking 06:40 Understanding Circle of Competence 07:50 Opportunity Costs in Decision Making 08:45 The Inversion Principle 11:39 #2 - Cognitive Biases 12:47 Confirmation Bias and Clear Thinking 14:34 Authority Bias and Independent Thought 16:26 Social Proof and Individuality 17:51 Arguing Against Your Own Beliefs 18:49 # Weaknesses 19:20 Lack of Emotion and suspension of belief 20:41 Binary thinking and Fixed Mindset 21:30 Arrogance and assumption that others are stupid 25:46 #3 - Rational Decision Making 26:59 First Principles Thinking 28:47 Probabilistic Thinking and Risks 30:22 The Margin of Safety 31:37 Chauffeur Knowledge vs. True Understanding 33:51 Applying Mental Models in Real Life 34:39 Sharing Wisdom and Building Community Learn more about your ad choices. Visit podcastchoices.com/adchoices

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There are a lot of opinions on how to master your mind, but then there’s PSYCHOLOGY. We’re all stuck with the brain we’re born with, but we aren’t stuck with how we use it. Learn science-backed answers to make the most of your mind and your life. CURIOUS? Growth Mindset Psychology is the "self-help sceptic" podcast for the curious. Whether you want to improve performance, navigate setbacks, or know who you are. We find answers to the true science of self-improvement. So put down the astrology chart and start working with your mind, instead of against it. With over 8 million downloads and 60,000 monthly listeners, you’re invited to join. PROCESS Instead of telling you what to think, we discuss how thinking works. Armed with a stack of science journals, textbooks and a boatload of curiosity, we uncover the mechanics of the mind. Why? >>> Success is personal! You might want to make the most of your neurodiverse strengths, start a business, or simply find more reasons to smile. Hone your ability for independent thinking and growth with mental models to pursue your definition of success. HOST I’m Sam Webster Harris, a lifelong learner with ADHD, a raging curiosity, and an obsession with finding answers to hard questions. After launching several businesses, travelling the world and nearly dying a few times I concluded that science and Psychology are where it’s at. What actually makes people happy? What’s the best way to treat a brain? How can I get more done? Studying the answers we find that changing behaviours requires building mindsets, mental models, and a healthy relationship with failure. I run the show to help listeners enjoy nutritious content that feeds their minds (and I needed a legitimate excuse to cover for my reading addiction). PREMIUM Go Ad-Free and listen to exclusive content. Support the show and access the AMA features and community Discord. Growth Mindset Premium ARCHIVE Previous guests include Olympians, Scientists, Billionaires, and Sam's Mum. Past series: — Psychology vs Stoicism — Time Management for busy mortals — Independence and knowing yourself — Cognitive biases and rational thinking — Psychology of connection — Carol Dweck and the Multiverse of Mindsets